NYMEX RBOB (G20): Bearish Pressure........>

OIL TECHS: NYMEX RBOB (G20): Bearish Pressure Still Dominates

*RES 4: $1.6888 - Low Dec 31

*RES 3: $1.6851 - High Jan 14 and key near-term resistance

*RES 2: $1.6711 - High Jan 21

*RES 1: $163.92 - High Jan 22

*PRICE: $1.5671 @ 07:23 GMT Jan 24

*SUP 1: $1.5346 - Low Jan 23

*SUP 2: $1.5278 - 76.4% retracement of the Oct 3 - Jan 8 rally

*SUP 3: $1.5192 - Low Oct 21

*SUP 4: $1.4868 - Low Oct 10

RBOB remains bearish following the sharp sell-off on Jan 8. Furthermore, sharp

losses this week have confirmed a resumption of the downtrend following the

break on Tuesday of former support at $1.6262, the Jan 15 low. The move lower

paves the way for weakness towards $1.5278 next, a retracement level. On the

upside, resistance has been defined at $1.6851, Jan 14 high where a break is

required to ease bearish pressure.